The JSE was flat in early trade on Thursday with no firm direction from eastern markets, with a trader saying that Wednesday's disappointing housing data in the US were still having an impact on the market.

However, the trader noted that positive momentum still in the market was limiting further falls.

At 9.18am the JSE all share index was flat, down 0.03 percent, with resources inching up 0.18 percent. Platinum and gold producers weakened 0.19 percent and 0.29 percent respectively.

Banks were down 0.46 percent, financials declined 0.26 percent and industrials were flat, down 0.16 percent.

The rand was bid at 7.45 to the dollar, from 7.43 when the JSE closed on Wednesday. Gold was quoted at $1 144.53 an ounce from $1147.45 at the JSE's last close, and platinum was at $1449 an ounce, from $1437 at its previous close.

"We are flat this morning. We closed down yesterday on the US housing data and that is still having an impact on the market," the trader said.

"It's surprising that we are not down more, the momentum in the market is keeping us up. For the rest of the day, we are likely to remain sideways," he said.

Dow Jones Newswire reported that technology and consumer stocks declined on Wednesday, breaking the DJIA's three-day winning streak, as disappointing earnings guidance from Autodesk weighed on technology and an unexpected decline in home construction last month hurt consumer companies including JC Penney.

After climbing higher in nine of the past 10 sessions to a new closing high for 2009, the DJIA closed down 11.11 points, or 0.11 percent, at 10 426.31.

Leading the move lower were several technology firms, including Hewlett- Packard, off 84 cents, or 1.6 percent, to 50.48, and United Technologies, off 73 cents, or 1.1 percent, at 68.81.

Setting up the decline was a weaker-than-expected full-year profit outlook and 72 percent fiscal third-quarter profit decline for Autodesk. The design-software company fell 2.80, or 10 percent, to 24.20, on Nasdaq. In addition, on-demand software company Salesforce.com lost 2, or 3.1 percent, to 63.61, on broad disappointment even after the company again raised its fiscal-year forecast.

Asian stock markets are mixed in quiet trade on Thursday with no strong lead from the US to help affirm a clear direction.

In Japan, the Nikkei ended down 1.3 percent and Hong Kong's Hang Seng was last down 0.5 percent.

European bourses are seen starting mixed as investors start to tackle the notion that the year's massive rally may commence winding down.

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